US retail gasoline demand down 0.9 PCT -MasterCard

23/11/2010 00:00 AST

U.S. retail gasoline demand fell 0.9 percent last week, but showed its first year-over-year gain after five consecutive weeks of declines, MasterCard Advisors' SpendingPulse report showed on Tuesday.

The average gasoline demand fell 83,000 barrels a day (bpd) to 9.119 million bpd in the week to Nov. 19.

Demand was 0.5 percent higher than levels seen the same week last year. Over the latest four weeks, U.S. gasoline consumption fell 1.0 percent on a year-on-year basis.

Fewer consumers pumped gasoline over weekends in the run up to the holiday season this year, which could be because of less discretionary driving and better fuel-economy cars on the road, MasterCard said.

Average retail gasoline prices inched up 2 cents to $2.88 a gallon, according to MasterCard. MasterCard Advisors estimates retail gasoline demand based on aggregate sales activity in the MasterCard payments system coupled with estimates for all other payment forms including cash and checks. MasterCard Advisors is a unit of MasterCard Inc .


Reuters

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